Procter & Gamble (P&G) India on Tuesday announced a ₹200 crore ‘P&G Technovate Fund’ to solve business challenges through innovation in collaboration with existing and new external suppliers. 

This will include solutions which could strengthen the company’s capability and drive innovation across various verticals, including brand building and awareness, consumer research, go-to-market, and supply chain, as well as well as key focus areas like digital analytics, transportation and warehousing, sustainability, and the future of payments, the company said in a statement.

This is in line with the government’s vision of driving digital revolution and transformation in the country, leading to this decade being termed a ‘Techade’ for India, the statement added.

This new fund is part of P&G India’s ‘vGrow’ programme that focuses on identifying and collaborating with start-ups, small businesses, individuals, and large organizations offering innovative industry-leading business solutions. These solutions will help the company in delivering a superior experience to its consumers and continuing to drive constructive disruption.

L.V. Vaidyanathan, CEO, P&G India Subcontinent said, “Five years ago, we launched ‘vGrow’ – with the vision to create a platform to foster collaboration and partnerships with external partners and suppliers, to solve business challenges and provide a breeding ground to emerging start-ups across the country.” 

“Over the years, we have committed spends of more than ₹1,300 crore in business solutions through this platform. We strongly believe that by forging partnerships with new-age, innovative and sustainable solutions, we have been able to create and deliver superior value for our consumers, customers, partners, and communities alike,” he added.